Insider Brief
Qolab announced $54.2 million in Series B financing and funding commitments to advance its superconducting quantum computing platform and fault-tolerant quantum computing roadmap.
The financing was led by UC Investments, with participation from existing investors including WARF, Octave Ventures, and Phoenix Venture Partners.
The company said the funding will support semiconductor collaborations, technology development, and manufacturing scale-up for superconducting quantum systems.
Press release – Qolab Inc., a leader in quantum computing hardware, today announced the initial closings of its Series B Preferred Stock financing, which, together with the conversion of an aggregate of $12.6 million in convertible securities and a commitment for an aggregate of $10 million in future convertible securities, represents total funding of $54.2 million for the company.
